17B. Treatment of the printers who exercised option under subsection (11) of section 4 of the Act

(a) Every dealer, who opts to pay tax under sub-section (11) of section 4 of the Act, shall register himself as VAT dealer.

(b) The VAT dealer mentioned in clause (a) above, shall notify to the prescribed authority his option to pay tax under composition in Form VAT 250.

(c) The Form VAT 250 shall be submitted by the dealer within Thirty (30) days from the commencement of the business and then onwards by the end of the month of April every year.

Provided that the dealers, who are already registered, may file the Form VAT 250 within 60 days from the date of this notification with retrospective effect from the date of incorporation of subsection (11) of section 4 of the Act.

(d) The VAT dealer, mentioned in clause (a) above, shall pay tax @5% on 60% of the total value of consideration, received or receivable.

(e) The dealers exercising option to pay tax under this rule shall not be eligible to claim input tax credit.